Ajo LP Takes Position in JinkoSolar Holding Co. (JKS)
Ajo LP acquired a new position in shares of JinkoSolar Holding Co. (NYSE:JKS) during the second quarter, Holdings Channel reports. The fund acquired 76,246 shares of the company’s stock, valued at approximately $1,554,000. Ajo LP owned 0.24% of JinkoSolar Holding at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in JKS. BlackRock Inc. boosted its position in JinkoSolar Holding by 137.4% in the first quarter. BlackRock Inc. now owns 8,304 shares of the company’s stock valued at $173,000 after buying an additional 4,806 shares during the period. Prudential Financial Inc. boosted its position in JinkoSolar Holding by 56.0% in the first quarter. Prudential Financial Inc. now owns 154,400 shares of the company’s stock valued at $3,229,000 after buying an additional 55,400 shares during the period. BlackRock Fund Advisors boosted its position in JinkoSolar Holding by 11.5% in the first quarter. BlackRock Fund Advisors now owns 89,113 shares of the company’s stock valued at $1,863,000 after buying an additional 9,202 shares during the period. BlackRock Group LTD boosted its position in JinkoSolar Holding by 13.6% in the first quarter. BlackRock Group LTD now owns 77,346 shares of the company’s stock valued at $1,617,000 after buying an additional 9,255 shares during the period. Finally, Bank of Montreal Can purchased a new position in JinkoSolar Holding during the second quarter valued at approximately $132,000. Hedge funds and other institutional investors own 20.15% of the company’s stock.
Shares of JinkoSolar Holding Co. (NYSE:JKS) traded down 1.37% during mid-day trading on Tuesday, hitting $15.13. 236,015 shares of the stock traded hands. The stock has a market cap of $476.46 million, a PE ratio of 2.86 and a beta of 3.90. The stock has a 50-day moving average of $18.49 and a 200 day moving average of $20.33. JinkoSolar Holding Co. has a one year low of $14.95 and a one year high of $29.50.
JKS has been the subject of several analyst reports. Zacks Investment Research upgraded shares of JinkoSolar Holding from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 2nd. Roth Capital cut shares of JinkoSolar Holding from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $18.00 to $30.00 in a report on Friday, August 5th. Credit Suisse Group AG lowered their price target on shares of JinkoSolar Holding from $40.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, August 18th. JPMorgan Chase & Co. upgraded shares of JinkoSolar Holding from a “neutral” rating to an “overweight” rating in a report on Thursday, June 9th. Finally, Morgan Stanley set a $27.20 price target on shares of JinkoSolar Holding and gave the stock a “buy” rating in a report on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $29.28.
JinkoSolar Holding Company Profile
JinkoSolar Holding Co, Ltd. operates in the photovoltaic (PV) industry. The Company has built a vertically integrated solar power product value chain, from recovering silicon materials to manufacturing solar modules and solar power generation. The Company’s segments include the manufacturing segment and the solar power projects segment.
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